Madrigal Pharmaceuticals (NASDAQ:MDGL) Shares Up 4.1% – Time to Buy?

Shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shot up 4.1% on Tuesday . The company traded as high as $316.75 and last traded at $316.01. 62,052 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 442,812 shares. The stock had previously closed at $303.49.

Wall Street Analysts Forecast Growth

MDGL has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Madrigal Pharmaceuticals in a research report on Friday, October 11th. HC Wainwright reiterated a “buy” rating and set a $390.00 target price on shares of Madrigal Pharmaceuticals in a report on Tuesday, October 22nd. Oppenheimer cut their price objective on shares of Madrigal Pharmaceuticals from $375.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com raised Madrigal Pharmaceuticals to a “sell” rating in a research report on Saturday, October 12th. Finally, Citigroup reduced their price target on Madrigal Pharmaceuticals from $382.00 to $371.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $347.33.

Madrigal Pharmaceuticals Stock Performance

The stock’s 50 day moving average is $245.14 and its two-hundred day moving average is $252.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 5.98 and a quick ratio of 5.93. The firm has a market capitalization of $6.79 billion, a P/E ratio of -12.62 and a beta of -0.46.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($4.92) EPS for the quarter, beating the consensus estimate of ($6.94) by $2.02. The company had revenue of $62.18 million during the quarter, compared to analyst estimates of $34.60 million. During the same period in the previous year, the company posted ($5.34) EPS. As a group, equities analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -24.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other Madrigal Pharmaceuticals news, CEO William John Sibold sold 6,363 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $243.83, for a total transaction of $1,551,490.29. Following the completion of the sale, the chief executive officer now directly owns 55,887 shares of the company’s stock, valued at approximately $13,626,927.21. The trade was a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard S. Levy sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $300.94, for a total value of $1,504,700.00. Following the completion of the transaction, the director now directly owns 11,012 shares of the company’s stock, valued at approximately $3,313,951.28. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Institutional Trading of Madrigal Pharmaceuticals

Large investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC lifted its stake in Madrigal Pharmaceuticals by 5.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,055,555 shares of the biopharmaceutical company’s stock worth $575,884,000 after purchasing an additional 111,111 shares during the last quarter. Paulson & CO. Inc. boosted its holdings in shares of Madrigal Pharmaceuticals by 10.4% during the 3rd quarter. Paulson & CO. Inc. now owns 2,042,000 shares of the biopharmaceutical company’s stock valued at $433,353,000 after acquiring an additional 192,000 shares during the last quarter. RTW Investments LP lifted its stake in shares of Madrigal Pharmaceuticals by 4.1% in the 3rd quarter. RTW Investments LP now owns 1,993,687 shares of the biopharmaceutical company’s stock worth $423,100,000 after purchasing an additional 77,825 shares during the period. Vanguard Group Inc. raised its position in shares of Madrigal Pharmaceuticals by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 1,668,806 shares of the biopharmaceutical company’s stock valued at $445,638,000 after purchasing an additional 94,064 shares during the period. Finally, State Street Corp lifted its holdings in Madrigal Pharmaceuticals by 19.2% in the 3rd quarter. State Street Corp now owns 887,752 shares of the biopharmaceutical company’s stock worth $188,399,000 after purchasing an additional 143,038 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of non-alcoholic steatohepatitis (NASH) in the United States. Its lead product candidate is resmetirom, a liver-directed thyroid hormone receptor beta agonist, which is in Phase 3 clinical trials for treating NASH.